Pizza Express to shut 73 restaurants and axe 1,100 jobs in fresh blow for High Street

mirror.co.uk:

Pizza Express is to shut 73 of its restaurants across the UK with the potential to cut 1,100 jobs. The jobs are on the line in the latest blow to Britain's high streets as the chain is poised to shut shops in a bid to stay afloat in the wake of the coronavirus lockdown.

The company, which currently has around 454 restaurants in the UK, confirmed on Tuesday it has finalised a proposal to reduce its restaurant and rental costs via a company voluntary arrangement (CVA).

It said that although the majority of its restaurants were profitable before lockdown was imposed, earnings had been declining across the Pizza Express estate for the last three years.